why $tet? to understand it you have to first understand why did bitcoin lightning network(LN) fail.
LN is a layer 2 solution built on top of btc. it was created to scale btc and lower the fees. this was done by the removal of extra transactions other than the 1st and the last transaction. the middle transactions was done by LN off chain.
but with only 2 transactions (1st and the last) that have to be put up on btc mainnet, LN failed miserably due to BTC's structure.
to solve this problem and scale BTC, @tectumsocial team created its flagship product softnote.
in simple language, softnotes are digital banknotes that represent ownership of btc wallets and carry access to btc inside of that wallet.
softnote is very simple in design -$TET is used to mint a softnote - at first softnote bills are empty, but later can filled with $BTC -this softnote can be sent peer to peer instantly and without fees or any gas. -it can be sent through whatsapp, telegram or by any socials.
-when a softnote is burnt, the $BTC inside it goes to the softnote owner at that time.
so,softnote is a wallet that contains btc inside it, if the first owner know the private key than after hand over it to another,will he still have the access? no, when someone provide liquidity to softnote, everytime a transaction occurs, the new pin is only known to receiver.
now comes to the first question again. why $TET? - $TET is used to mint softnote -10 million hard cap -When the user mints SoftNote bills by providing $TET, the $TET is returned to both a minting account and the bounty account on the Tectum blockchain in a proportion 90/10.
At the point of minting the $TET is withdrawn from the user wallet and are returned to the Tectum network. The Tectum token circulation is designed to work in a 90/10 ratio. 90% of used are recycled back to the minting account and 10% go back to a bounty account.
The bounty account is used by the Tectum team to pay for expenses related to development and marketing of the blockchain protocol and getting more adoption.
and the most important is that softnote is already getting adoption, its highly used by a lot of individuals, to enter this ecosystem of peer to peer transanctions, $TET is the only way.
softnote has already been adopted in many busynesses and with the upcoming bull run it is poised to take over the world. So from now $TET becomes a up only pump only token.
you can read it in my twitter too-
https://x.com/FIRED2035/status/1735263203393941951?s=20
